Canton, Ohio-based special bar quality (SBQ) producer Republic Steel said in a press release today that it has invested $12 million over the last 18 months in preparation of supplying increased market demand.
The company said the 232 steel tariffs have created additional demand for steel and Republic has the expertise, quality and open capacity to take on this increase in demand. At its Canton facility, Republic has hired 25 new employees this year, is recruiting for 50 additional positions, and has recently invested over $6 million in its melt shop to increase its average production capacity from 40,000 tons per month to 75,000 tons per month.
At its Lackawanna, New York facility, Republic has hired 50 new employees this year, is recruiting for 30 additional positions, and has also recently invested approximately $3 million in its rolling facility to increase its average production capacity from 40,000 tons per month to 60,000 tons per month. More specifically, at this facility, Republic added a fourth crew on the rolling mill and increased its finishing and inspection capacity.
Additionally, Republic anticipates restarting the 9"/10" rolling mill at its Lorain, Ohio plant in September 2018 followed by the electric arc furnace as orders dictate. The first phase of this would have Republic hire 80 people over the next two months for the rolling mill. This rolling mill has capacity of 35,000 tons per month, which will expand its size range down to 7.5mm and free up additional capacity at Lackawanna.